School me on IRA's.

[killap]

Be more specific...you put money in it and hope it grows...

 

[traestar]

Sorry this is late...http://www.investopedia.com/terms/i/ira.asp#axzz1ebCKsdek

 

[black caesar]

An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.

 

[killap]

An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.

You are penalized for taking gains out on it you can take out your contributions

 

[black caesar]

An IRA is better than a 401K. However if you have a 401k you can transfer the money to a IRA account. There are two types. You have a traditional IRA and a Roth IRA. You get penalized for taking money out of it. However once you reach 59 1/2 years old, you can't be taxed on it.

You are penalized for taking gains out on it you can take out your contributions

Yep you're right. I was typing too fast.

 

[lostsamuraisotaku]

dont open an ira or a 401 k open a qrp (qualified retirement plan )

 

[guytoosmooth]

So a qrp is better? WHat is the difference? New to me.

 

[LUClEN]

I thought this thread was going to be about the irish republican army

 

[lostsamuraisotaku]

So a qrp is better? WHat is the difference? New to me.

higher yields amongst other things wealthy people open qrp's others open ira's

 

[lostsamuraisotaku]

So a qrp is better? WHat is the difference? New to me.

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